Boustead Singapore's Q1 profit falls 58% on FX loss, weak markets

Singapore

INFRASTRUCTURE engineering company Boustead Singapore's net profit for its fiscal first quarter fell 58 per cent to S$2.9 million, or 0.6 Singapore cent per share, on currency effects, and weakness in the oil & gas and Singapore industrial real estate markets.

Revenue for the three months ended June 30 shrank 21 per cent to S$90.3 million on slowdown in all key segments, the company announced on Th…